“This is a well-earned promotion for Trey,” said Okada. “For over a decade Trey has been a driver of operational alpha in numerous areas across the firm, from streamlining research and risk management processes to enhancing collaboration across disciplines—all motivated by improving client outcomes. He enters this role not only with the full support and respect from Jim and me, but also with that of the entire firm, and it’s a privilege to have him alongside me leading our investment platform.”

Since Parker joined Highland in 2007, he has risen through the investment team, ultimately becoming the head of the firm’s credit research platform, while also serving as the portfolio manager on a number of credit funds. Parker was named a partner in 2015.

“Trey’s investment platform oversight facilitates our growth and performance in the new era of asset management,” said Highland co-founder and president Jim Dondero. “Trey understands and anticipates clients’ needs, which is at the core of Highland’s strategy.”

Parker commented on his new role saying, “I’m humbled by this recognition from Jim and Mark and grateful for the trust they’ve placed in me. The entrepreneurial culture and disciplined and bold investment style that they have cultivated since founding Highland 25 years ago are cornerstone philosophies for the entire organization. That foundation, paired with a commitment to enhance firm scalability, fuels my excitement and confidence in our future prospects.”

Both Okada and Parker will maintain their individual portfolio management responsibilities. In addition to remaining in a portfolio management role on various institutional funds and separate accounts, Okada will continue to serve as co-portfolio manager of the Highland Floating Rate Opportunities Fund and the Highland iBoxx Senior Loan ETF. He will also remain head of Acis Capital Management, Highland’s structured products business. Parker will remain the portfolio manager of his respective institutional funds and separately managed accounts, as well as maintaining his role as co-portfolio manager on the Highland Opportunistic Credit Fund.

Parker will continue to serve on the Executive Committee and the Credit and Private Equity Investment Committees, but as co-CIO will also join the Equity and Structured Products Investment Committees.

In conjunction with Parker’s new position as co-CIO, Highland has named Jon Poglitsch as head of credit research. Poglitsch will assume Parker’s previous responsibilities leading the credit research team and platform.

About Highland Capital Management, L.P.

Highland Capital Management, L.P. is an SEC-registered investment adviser that, together with its affiliates, has approximately $13 billion of assets under management. Founded in 1993 by James Dondero and Mark Okada, Highland is one of the largest and most experienced global alternative credit managers. Highland specializes in credit strategies, including credit hedge funds, long-only funds and separate accounts, distressed and special-situation private equity, and collateralized loan obligations (CLOs). Highland also offers alternative investments, including emerging markets, long/short equities, and natural resources. Highland’s diversified client base includes public pension plans, foundations, endowments, corporations, financial institutions, fund of funds, governments, and high net-worth individuals. Highland is headquartered in Dallas, Texas and maintains offices in New York, Sao Paolo, Singapore, and Seoul. For more information visit highlandcapital.com.

Before investing, you should carefully consider the Fund’s investment objectives, risks, charges and expenses. For a copy of a prospectus or summary prospectus which contains this and other information, please visit our website at highlandfunds.com or call 1-877-665-1287. Please read the fund prospectus carefully before investing.